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SINGAPORE: A series of industry-specific Human Resources (HR) manuals is being developed to guide HR professionals in addressing and solving industry-specific challenges, announced on Wednesday (September 30) the Minister of State for Human Resources, Zaqy Mohamad.
The Ministry of Manpower (MOM) and the Institute of Human Resource Professionals (IHRP) are working together with industry agencies and human resources experts to select the best practices, tools and practical use cases for these playbooks, Zaqy said.
Playbooks will be presented first for financial and food services, before expanding to other sectors, he said at the HR Tech Festival Asia 2020.
This is in line with the goal of strengthening organizations’ human resource capabilities to support business and workforce transformation, one of the two key pillars of the recommendations set forth by the Human Resources Industry Transformation Advisory Panel. .
Formed in 2018, the panel aims to equip the HR industry to play an integral role in business transformation, as well as charting the next phase of development for the industry.
Mr. Zaqy noted that the government is integrating human resource capacity building components into various business support schemes, taking the example of Enterprise Singapore’s Scale-Up SG program, which helps local high-growth businesses scale. quickly.
“Under this program, people strategy is now embedded in discussions about the company’s growth strategy,” he said.
“MOM and Enterprise Singapore are also working to provide additional support to companies in implementing workforce strategies to complement their companies’ growth plans, as IHRP certified community mentors.”
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EMERGING SKILLS
The panel’s recommendations also called for human resource professionals to be equipped with emerging skills.
In his speech, Zaqy cited a study by consulting firm Willis Towers Watson that found that nearly 90 percent of all HR roles would be affected by technology.
“According to IHRP’s estimate of its certified community, 53 percent of certified HR professionals in Singapore will be affected,” he said.
“The increased availability of data analytics and technology solutions will increase the added value of many human resource functions, creating new opportunities.”
HR professionals must be prepared to embrace new skills and opportunities for better professional development, he added.
He noted that the IHRP had signed an agreement with the National University of Singapore (NUS) Institute of Systems Science to develop a human resource digital competencies roadmap.
“Under this alliance, IHRP and NUS will develop training courses for companies to acquire the necessary skills to embark on digital transformation. The flagship program, the Professional Diploma in Leadership in Digital Human Capital, will enable HR professionals to lead and execute business transformation projects. ” he said.
Mr. Zaqy assured those in roles most at risk of being displaced by technology that there would be opportunities to enhance their skills to develop new skills and competencies.
“Through improvement and support for business and workforce transformation, we will continue to elevate HR professionals to strategic leaders and business partners,” Zaqy said, adding that this would also result in better jobs at HR
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A STRONGER HR SECTOR
“The transformation work ahead of us demands that organizations harness the best available talent to lead change,” said Zaqy.
“This requires strong, merit-based talent hiring processes, as well as measures that ensure diversity and inclusion in the workplace, so organizations can hire a broad and diverse talent pool.”
Workforce analysis can use data to generate “deep insights” about the organization’s and job requirements, as well as the suitability of potential candidates, he added.
“At the same time, it makes business sense for our companies to invest in the flow of local talent, the closest source of talent,” he said, noting that major travel disruptions caused by the COVID-19 crisis have highlighted the importance of a “local nucleus trained for greater resilience and sustainability of the workforce.”
Zaqy said there are currently around 47,000 HR professionals in Singapore, about 90 percent of whom are locals at different salary levels.
Of these, 92 percent are in PMET positions (professionals, managers, executives, and technicians), up from 85 percent five years ago.
“During the same period, the median salaries of HR professionals have also increased by about 10 percent. Through the transformation of HR, our goal is to support HR professionals to take on roles with higher added value and salaries, ”she said.
“A strong human resources sector will put our companies and our workforce in a good position to navigate their transformational journeys in the post-COVID world.”
